11th Sep 2014 10:37
LONDON (Alliance News) - Pacific Horizon Investment Trust PLC Thursday said it outperformed its comparative index in its last financial year
In a statement, the trust said its net asset value per share rose by 10.4% in the year ended July 31. It said the increase was favourable against the 4.0% increase in the MSCI All Country Asia ex Japan Index (in sterling terms). The share price increased by 13.4% and the discount to NAV narrowed to 11.5% from 13.9%.
NAV per share increased to 200.95 pence from 182.01p over the course of the year.
Asian markets continue to make progress, with a particularly strong performance from India following the election," Chairman Jean Matterson said in a statement.
"Stocks in many of the geographic areas in which the company invests appear better value than in many developed markets and the board is optimistic that the managers can capitalise on the growth prospects in the region over the medium to long term through an unchanged strategy of selecting sound companies at attractive valuations," Matterson added.
Pacific Horizon Investment Trust shares were Thursday quoted down 1.7% at 185.50.
By Samuel Agini; [email protected]; @samuelagini
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